Seaport Res Ptn Downgrades Paramount Global (NASDAQ:PARAA) to Neutral

Paramount Global (NASDAQ:PARAA) was downgraded by equities researchers at Seaport Res Ptn from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Zacks.com reports. Seaport Res Ptn also issued estimates for Paramount Global’s Q2 2024 earnings at $0.18 EPS and FY2024 earnings at $1.25 EPS.

Paramount Global Trading Down 14.1 %

Shares of PARAA stock opened at 22.42 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65. Paramount Global has a twelve month low of 13.40 and a twelve month high of 26.34. The company has a market capitalization of $14.63 billion, a P/E ratio of -149.46 and a beta of 1.66. The business’s 50 day moving average is 21.87 and its two-hundred day moving average is 19.82.

Paramount Global (NASDAQ:PARAA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported 0.04 earnings per share for the quarter, missing analysts’ consensus estimates of 0.08 by -0.04. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The business had revenue of 7.64 billion during the quarter, compared to analysts’ expectations of 7.89 billion. During the same quarter last year, the firm earned $0.08 earnings per share. Equities analysts forecast that Paramount Global will post 1.25 EPS for the current year.

Institutional Trading of Paramount Global

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Paramount Global by 708.2% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $28,000 after acquiring an additional 1,126 shares during the last quarter. Raymond James & Associates acquired a new position in shares of Paramount Global in the fourth quarter worth $205,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Paramount Global by 5.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company’s stock worth $239,000 after acquiring an additional 537 shares during the last quarter. SageView Advisory Group LLC acquired a new position in shares of Paramount Global in the fourth quarter worth $284,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Paramount Global by 29.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock worth $557,000 after acquiring an additional 8,007 shares during the last quarter. 5.98% of the stock is currently owned by hedge funds and other institutional investors.

About Paramount Global

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.